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Where Taxpayers and Advisers Meet

Moving a LTD company overseas

omaplata
Posts:5
Joined:Mon Feb 07, 2011 11:13 pm
Re: Moving a LTD company overseas

Postby omaplata » Thu Feb 10, 2011 12:54 am

I need someone to help me with the structuring so it would actually become 'offshore'.
I don't think it's possible.

You refer to "structuring so it would actually become offshore". i.e. something completely artificial.

Quit trying to con HMRC out of cash to which it is lawfully entitled; nobody here will encourage tax evasion.

If you don't want to pay HMRC, then move abroad. If you like living here then pay the tax you properly owe.
I'm not sure whether you are just angry or obtuse, but anyway thanks for the same reply again...

omaplata
Posts:5
Joined:Mon Feb 07, 2011 11:13 pm

Re: Moving a LTD company overseas

Postby omaplata » Thu Feb 10, 2011 1:05 am

What does the 'website business' do exactly?
Information and social networking websites in different niches.

I am outsourcing more and more of what I do - all to people based outside the UK. My end goal will be to be pretty much hands off, with the people running things based outside the UK.

cj911
Posts:7
Joined:Mon Oct 11, 2010 8:50 pm

Re: Moving a LTD company overseas

Postby cj911 » Thu Feb 10, 2011 4:05 am

If this person can't steer his/her business offshore then probably no one can. There are lots of overseas activities going on and the comments/suggestions provided are extremely negative.
If you are going to remain in the UK why not look at breaking the business up and setting up one or more offshore profitable companies leaving an unprofitable one behind in the U.K.
Maybe a company in Panama contracted to deliver a service to the company in the UK. Panama company bills UK company for services provided or vice versa. End result - UK company = Low profits Panama Company = high profits.
Don't know what your business actually is so can't really suggest much in terms of the mechanisms but definitely sounds to me like the will be a workable solution for you. LEGALLY.

Incredulum
Posts:2795
Joined:Thu Dec 03, 2009 5:35 pm

Re: Moving a LTD company overseas

Postby Incredulum » Thu Feb 10, 2011 12:03 pm

Outsourcing doesn't sound to me like giving away the central management and control of the activity.

Brian Clarke
Posts:248
Joined:Wed Aug 06, 2008 3:42 pm
Location:London / SE England

Re: Moving a LTD company overseas

Postby Brian Clarke » Thu Feb 10, 2011 4:34 pm

Outsourcing doesn't sound to me like giving away the central management and control of the activity.
I think you're hitting the nail on the head there. If part of the profit is being earned by a subsidiary in Panama, which is managed and controlled in Panama, then fair enough. But the OP can't be working in both the UK and Panama simultaneously. Central management and control in Panama needs to be done by Panamanians - or at least someone other than the OP.

Then there's potentially Transfer Pricing to consider, and whether management charges are justifiable etc etc. Going offshore ain't simple, which could be why it's mainly mega-millions corporations that do it.
Brian Clarke
www.BrianClarke.com

mullet
Posts:3242
Joined:Fri Nov 06, 2009 9:26 am

Re: Moving a LTD company overseas

Postby mullet » Thu Feb 10, 2011 6:46 pm

I'm not sure whether you are just angry or obtuse, but anyway thanks for the same reply again...
I am one of the regulars lurking and watching this post, and I agree with Incredulum (not that he needs my approval). Most of the regular contributors here are UK-based professionals trying to get things right and - most importantly - paying their way in UK plc. Whilst there might be some sharp practices "in the shadows", you won't get much guidance towards using such devices on this site. I subscribe to the principle "I pay so why shouldn't you?"

Your aim seems to be to reduce your company's tax burden; I agree that, unless you too leave Blighty, it probably isn't achievable. It's all about establishing a tax presence in foreign climes I believe - i.e. the control and management of a company, not (for instance) the actual manufacture of widgets or actual servicing of clients or actual maintenance of websites.

Brooke
Posts:4
Joined:Wed Mar 02, 2011 4:21 pm

Re: Moving a LTD company overseas

Postby Brooke » Wed Mar 02, 2011 5:29 pm

Omaplata,

Ref. your question "can anyone help?"

My Swiss Fiduciary Company may just be able to. We are based in Geneva and have offices in Mayfair London.

My email: liam.brooke@pfm-sa.com. Contact me, lets discuss.

Best regards
Liam Brooke
Director, Tax and Investment Services
Portland Financial Management SA
Geneva, Switzerland
Mob : +44 (0) 7921 025380
Email : liam.brooke@portland-sa.com

vorabj
Posts:76
Joined:Wed Aug 06, 2008 3:58 pm

Re: Moving a LTD company overseas

Postby vorabj » Thu Mar 03, 2011 2:14 pm

I believe there is a way - this may require a completely new set up if necessary but it is possible.

Perhaps you will contact me latter tomorrow on 0771 008 2570 so I can give you a contact number
of a firm who perhaps can help.


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